Asia Pacific Single-use Bioprocessing Systems Market Analysis and Forecast up to 2024


Posted November 5, 2017 by hawerr

Single-use Bioprocessing Systems Market report categorizes the Asia Pacific market by Product (Bioreactors, Bioprocess Containers, Filtration Devices)

 
The TMR report has foreseen the Asia Pacific single-use bioprocessing systems market to earn a valuation of US$1.4 bn by the end of 2024 from US$0.4 bn in 2015 at a decent CAGR of 12.50% for the forecast period 2016–2024. The pharmaceutical industry could top the market on the basis of end use, considering its 34.5% share in 2015 and several factors fueling growth. With a 33.0% share achieved in the same year, China has been prophesied to be another opportunity to cash in on until the concluding forecast year. Despite the aforementioned driving factors projected to be prevalent in the Asia Pacific single-use bioprocessing systems market, industry players could be challenged with environmental concerns associated with the engagement of disposables and certain technical difficulties. Moreover, lack of awareness about innovative disposable applications in bioproduction and rigorous government regulations related to the deployment of disposable systems and issues linked to the employment of plastic-based disposable products have been forecasted to be other restraining factors of the Asia Pacific single-use bioprocessing systems market.

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However, technological advancement, initiatives to inform end users about various benefits of using single-use bioprocessing systems, and appropriate training programs could help the market to rise above its challenges. Besides this, mushrooming geriatric population, improving healthcare and medical infrastructure, increasing healthcare expenditure, and continuing occurrence of cancer have been envisioned to offer profit-making prospects in the Asia Pacific single-use bioprocessing systems market.

The Asia Pacific single-use bioprocessing systems market has been expected to gain a significant demand among prime end users such as academic and research institutes, contract research organizations (CROs) and contract manufacturing organizations (CMOs), biotechnology, and pharmaceutical. This could be because of the decidedly cost-effective nature of single-use bioprocessing systems. The capital cost of retrofitting and building biopharmaceutical manufacturing facilities could be decreased with the employment of single-use bioprocessing systems. Compared to stainless steel products, single-use bioprocessing equipment could be deployed with a low initial capital investment.

Other factors that have been envisaged to set the tone for a constant growth in the Asia Pacific single-use bioprocessing systems market include the reduced time consumed by clean-in-place (CIP) and sterilize-in-place (SIP) processes.

Japan stood second in the Asia Pacific market for single-use bioprocessing systems in 2015. Expanding at an exponential growth rate compared to other domestic markets, it is likely to witness a high rise in its market share. The increasing demand for cost effective and prefabricated modular bioprocessing facilities, introduction of new products, and the expansion in the pharmaceutical and biotechnology industry are expected to boost the Japan single-use bioprocessing systems market in the years to come.

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At the forefront of the Asia Pacific market for single-use bioprocessing systems are Danaher Corp., Eppendorf AG, Finesse Solutions, GE Healthcare, Colder Products Co., Merck KgaA, Parker Hannifin Corp., CESCO Bioengineering Co. Ltd., Saint-Gobain, Sartorius AG, Corning Inc., Thermo Fisher Scientific Inc., and Cole - Parmer Instrument Co. LLC.

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Issued By Transparency Market Research
Country United States
Categories Health , Medical , News
Tags asia pacific singleuse bioprocessing systems market
Last Updated November 5, 2017